Piper Sandler Begins Coverage on Cactus (NYSE:WHD)

Equities research analysts at Piper Sandler began coverage on shares of Cactus (NYSE:WHD) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set an “overweight” rating and a $73.00 price target on the stock. Piper Sandler’s target price indicates a potential upside of 25.90% from the stock’s current price.

Several other brokerages have also recently issued reports on WHD. Zacks Research cut Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research note on Monday, December 29th. Citigroup raised Cactus from a “neutral” rating to a “buy” rating and raised their price objective for the company from $45.00 to $55.00 in a research report on Thursday, December 11th. Barclays lifted their target price on Cactus from $51.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, December 17th. Finally, Stifel Nicolaus increased their price target on shares of Cactus from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Cactus has an average rating of “Hold” and an average price target of $54.00.

Cactus Stock Performance

Shares of NYSE:WHD opened at $57.98 on Tuesday. The company has a current ratio of 5.28, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01. Cactus has a 12 month low of $33.20 and a 12 month high of $59.22. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 5.96 and a beta of 1.27. The firm’s 50-day moving average is $52.98 and its 200 day moving average is $45.16.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. Cactus had a net margin of 15.86% and a return on equity of 16.02%. The company had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $250.60 million. During the same period in the previous year, the company earned $0.71 EPS. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. Research analysts predict that Cactus will post 3.08 EPS for the current year.

Institutional Investors Weigh In On Cactus

A number of institutional investors have recently made changes to their positions in the company. Salomon & Ludwin LLC acquired a new stake in shares of Cactus during the 3rd quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after buying an additional 259 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Cactus in the 3rd quarter valued at about $33,000. Aster Capital Management DIFC Ltd boosted its holdings in shares of Cactus by 73.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after buying an additional 314 shares during the period. Finally, Huntington National Bank grew its position in shares of Cactus by 55.4% during the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $43,000 after buying an additional 390 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors.

About Cactus

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.